Why should you consider disability, critical illness, and accident insurance?


When looking at disability, critical illness, or accident coverage there seems to be a disconnect between the perceived likelihood of an event occurring and concern over the financial impact of an insurable risk. One might feel motivated to only purchase insurance they feel is needed or required because of this, such as home, auto, and health. However, you want to make sure you are covered in all aspects of your life. Take a look at Disability, Critical Illness, and Accident Insurance to see how they can help you be covered in all aspects of your life.

Critical Illness:

Core health insurance doesn’t always cover all the costs associated with a critical illness, diagnosis, treatment, and all personal expenses that may accrue during recovery. Critical Illness Insurance can help, by paying cash benefits for a covered diagnosis in addition to any other insurance already in place. The cash benefits received can be used for anything from hospital bills to groceries.

According to Guardian Anytime, 62% of all personal bankruptcies are related to medical bills. Workers who experience a critical illness like cancer can face serious financial difficulties as they recover.  Critical illness and cancer insurance, therefore, are valuable tools in helping alleviate the financial burden when faced with a devastating major illness. (Supplemental health benefits do not provide major medical coverage.)


Disability Income Insurance provides a monthly cash benefit when a covered person cannot work due to sickness or injury. This coverage can help give financial peace of mind by providing a safety net if paychecks are temporarily reduced or eliminated due to sickness or injury.

With disability insurance, employees can choose a maximum monthly benefit amount that meets their needs. Then, if they are faced with a period of sickness or off-the-job injury and cannot work, they’ll receive cash benefits to spend as they see fit. Benefits are paid for total disability, partial disability, concurrent disability, and recurrent disability – and there is no elimination period or waiting period for a second instance of a previously covered disability. Employer-chosen riders may offer additional benefits for family medical leave, doula services, on-the-job accident disability, and more.


Many medical plans only cover a portion of the costs. Accident Insurance pays in addition to major medical coverage that’s already in place. Treatment for a broken bone, laceration or other accidental injury shouldn’t deplete someone’s bank account. The extra protection from accident insurance can help ease financial worries.